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| Authors | Blanca Rubio | |||||||||||||||||||||||||||
| Subject | Personal Income Tax Law: Corporation Tax Law: credits: fast food restaurants. | |||||||||||||||||||||||||||
| Relating To | relating to taxation, to take effect immediately, tax levy. | |||||||||||||||||||||||||||
| Title | An act to add and repeal Sections 17053.92 and 23692 of the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy. | |||||||||||||||||||||||||||
| Last Action Dt | 2025-03-24 | |||||||||||||||||||||||||||
| State | Amended Assembly | |||||||||||||||||||||||||||
| Status | Died | |||||||||||||||||||||||||||
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| Analyses | TBD | |||||||||||||||||||||||||||
| Latest Text | Bill Full Text | |||||||||||||||||||||||||||
| Latest Text Digest |
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. This bill, for taxable years beginning on or after January 1, 2026, and before January 1, 2031, would allow a credit against those taxes to qualified taxpayers, defined to mean certain fast food restaurant franchisees or independent operators, in the amount of $12,000 per qualified fast food restaurant, as defined. Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals that the tax expenditure will achieve, detailed performance indicators, and data collection requirements. This bill also would include additional information required for any bill authorizing a new tax expenditure. This bill would take effect immediately as a tax levy. |